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A trade is a transaction in which two Ethereum addresses exchange two tokens at a certain ratio. A trade occurs when an order placed by Trader A, known as the seller (or maker), is filled by Trader B, known as the buyer (or taker).

For example, Jane wants to use a new blockchain dating app called iHeartU, which requires its users to pay for the service with HEART tokens. Jane places a sell order on a decentralized exchange using her Ethereum account address 0x01. She proposes a trade of 1 ETH — the native currency of the Ethereum blockchain — for 2 HEART tokens. We refer to 0x01 as the seller of this order.

Another user of the decentralized exchange, who is anonymous, sees 0x01's sell order. This user is interested in trading and happens to own HEART tokens. He fills the order using his own account, address 0x02. We refer to this address as the buyer.

Based on the trade, 0x02 sends 2 HEART to 0x01, and 0x01 sends 1 ETH to 0x02. The ratio of the exchanged assets is 1/2, signifying a price where 1 HEART costs 0.5 ETH.